China to buy less LNG: study
By China correspondent Stephen McDonell
Posted Mon Jul 26, 2010 10:07pm AEST
China could be set to buy less natural gas from countries like Australia in the future.
According to a new study, China is preparing to develop its own huge gas reserves and will import significantly less LNG in the future.
The study by industry consultant Wood Mackenzie says that over the coming decade, China will import 16 million tonnes of gas every year.
But by 2020 the country's need for tanker-delivered gas would be halved.
The report says that "significant volumes of indigenous unconventional gas" will be "meeting much of China's incremental demand".
If true, this will come as bad news for international resource companies, including those in Australia, wanting to expand sales to China.
http://www.abc.net.au/news/stories/2010/07/26/2964878.htm
Add to My Watchlist
What is My Watchlist?